OKLAHOMA CITY — Dallas-based Mercer Co. has completed a 101,268-square-foot industrial project in Oklahoma City. The project, which consists of nine buildings on an eight-acre site, represents Phase I of a larger development known as OrderMatic Business Park. The buildings can accommodate users with requirements from 3,321 to 88,862 square feet. Mercer Co. is also leasing the project and recently opened an office in Oklahoma City to facilitate that objective.
PHILADELPHIA — A partnership between Jefferson Apartment Group, Haverford Properties and AFL-CIO Building Investment Trust has completed a 470-unit multifamily project in Philadelphia’s Northern Liberties neighborhood. Rivermark Northern Liberties fronts the Delaware River and consists of two midrise residential buildings, 45,000 square feet of retail space that is anchored by a Sprouts Farmers Market and four acres of public green space. Units come in one-, two- and three-bedroom floor plans and range in size from 527 to 1,605 square feet. Amenities include a pool, rooftop lounges with speakeasys, two fitness centers, a courtyard with fire pits and grilling stations, a lounge, game room, micro offices and a pet spa. Citizens Bank and Santander Bank financed construction of the project. Rents start at roughly $1,900 per month for a one-bedroom apartment.
JERSEY CITY, N.J. — JLL has arranged $13.1 million in construction financing for Vroom Street Apartments, a 42-unit multifamily project that will be located in the Journal Square neighborhood of Jersey City. The property will house five studios, 14 one-bedroom units and 23 two-bedroom units with an average size of 913 square feet. Max Custer and Salvatore Buzzerio of JLL arranged the loan through First Bank on behalf of the developer, Urban Street Properties. Construction is slated for a fall 2025 completion.
UNIVERSITY CITY, MO. — Developer Charles Deutsch has begun pre-leasing efforts for Avenir, a $90 million luxury apartment complex in University City, an inner-ring suburb of St. Louis. Residents are expected to move in toward the end of August. The 262-unit development features one-, two- and three-bedroom floor plans ranging from 640 to 1,620 square feet. Monthly rents start at $1,800. Amenities include pickleball courts, bocce ball, a resort-style pool, dog park, fitness center, business center, game room and coffee bar. Avenir marks Deutsch’s first luxury apartment community that isn’t geared toward seniors. He is one of the original co-founders and owners of The Gatesworth Communities, a collection of luxury seniors housing properties in University City and Creve Coeur. Holland Construction Services is the general contractor, and Gray Design Group served as architect. First Bank provided financing.
INVER GROVE HEIGHTS, MINN. — Trident Development is nearing completion of Avalon Apartment & Townhomes, a 244-unit luxury multifamily property in the Twin Cities suburb of Inver Grove Heights. The development will feature 54 townhomes and 190 apartments. The two- and three-bedroom townhomes will span across 10 buildings with attached two-car garages. The first townhomes will be move-in ready by fall 2024. The apartment units will be housed in one four-story building. Layouts include studio, one-, two-, three- and four-bedroom options. Residents will have access to underground parking with 166 stalls. The apartments are slated for occupancy by early 2025. Amenities will include a fitness center, speakeasy lounge, golf simulator, pickleball court, rooftop patio, dog run, playground and resort-style pool. Trident is developing the project in partnership with Vincent Cos. Lyon Contracting is the general contractor, and Village Green will serve as property manager.
CHULA VISTA, CALIF. — Sudberry Properties has completed Phase II at the 50-acre Otay River Business Park in Chula Vista, just south of San Diego. The second phase consists of two manufacturing and warehouse buildings totaling 205,435 square feet. The 97,230-square-foot building is located at 2995 Faivre St., and the 108,205-square-foot building is located at 2855 Faivre St. The buildings offer 28- to 32-foot clear heights, dock-high and grade-level doors, 4,000 amps of 277/480-volt power and flexible spaces ranging from approximately 25,000 square feet to more than 108,000 square feet. PGW Auto Glass, a supplier of auto glass and shop accessories with more than 120 distribution branches in the United States and Canada, has leased approximately 23,500 square feet of warehouse space at 1995 Faivre St. The 137,500-square-foot Phase One is fully leased to variety of tenants, including Starbucks Coffee, SuperStar Car Wash, Jamba Juice, Menuderia Guadalajara, Knockaround Sunglasses, Colonna’s Shipyard Inc., Sunbelt Rentals, Luv Sola wood flowers, Shore Total Office and Boochcraft hard kombucha. The final phase of Otay River Business Park will include 108,700 square feet of manufacturing/warehouse space. Michael Mossmer of Voit Real Estate Services is handling leasing for the buildings. The project team includes San Diego-based TFW …
LOS ANGELES — BOLOUR Associates has acquired a site with three retail buildings in the Los Angeles Mid City submarket for $6 million. Located at 601, 611 and 619 S. Fairfax Ave., the buildings offer more than 11,500 square feet of net rentable area, including a former 99 Cents Only store. BOLOUR purchased the 99 Cents Only property through a bankruptcy auction after Number Holdings Inc., the parent company of 99 Cents Only Stores LLC, filed for Chapter 11 bankruptcy earlier this year and closed all of its stores. The company will renovate the three buildings to cater to gallery, design, furniture and showroom uses. In the long-term, BOLOUR plans to redevelop the site into 120 multifamily residential units. Hilco Global represented the undisclosed seller, while BOLOUR was self-represented in the deal.
MARANA, ARIZ. — Ascent Cos. and Vanderbuild, along with Bryten Real Estate Partners as property manager, have opened Amavida Marana, an apartment community in Marana. Located at 5555 W. Ina Road, Amavida Marana features 200 one-, two- and three-bedroom units with upgraded in-home amenities including smart thermostats, nine-foot ceilings, stainless steel appliances and vinyl wood flooring. Community amenities include a private, four-acre, gated community park with four pickleball courts, a playground, a walking and jogging loop and an enclosed dog park. The property also includes electric vehicle charging stations, an indoor/outdoor fitness center, swimming pool, hot tub, pet washing stations and a clubhouse.
GARNER, N.C. — Merritt Properties has delivered 42 Crossing, a three-building industrial park in the Raleigh suburb of Garner that spans 213,800 square feet. Situated on 22 acres near I-40 and I-540, the park’s facilities feature 18- to 24-foot clear heights, rear-loaded docks and drive-in capabilities. 42 Crossing also offers incubator warehouses that are ideal for companies seeking 1,800 to 3,600 square feet of small-bay industrial space. These move-in ready facilities include two offices, a bathroom, a climate-controlled warehouse and at-grade drive-in access. Committed tenants at 42 Crossing include Quartz America (12,629 square feet); C. E Gandee (1,800 square feet); The Spa Haus (1,800 square feet); Choufani & Bailey Roofing (1,800 square feet); Fibrezone USA (1,800 square feet); Dock, Door, & Grille Solutions (1,800 square feet); JMO Import Automotive (1,800 square feet); Konecranes (1,800 square feet); and Pickles and Play (18,350 square feet), marking the company’s third indoor pickleball facility at a Merritt property.
LEBANON, TENN. — The U.S. Green Building Council (USGBC) has certified REI Co-Op’s 400,000-square-foot distribution center in Lebanon as LEED v4 Platinum. Situated roughly 30 miles east of Nashville, the property is the largest LEED Platinum-certified industrial property in the Southeastern United States and one of 10 warehouses in the country to achieve LEED v4 Platinum certification, as well as the only facility in the state with that rating. Al. Neyer designed and developed the distribution center in 2023. Sustainable features of the REI distribution center include 100 percent renewable electricity via an onsite solar array, as well as a nearby solar array in east Tennessee that REI helps support; the use of reclaimed wood and metal sourced from the original barn onsite; a polished concrete stream inspired by the nearby Cumberland River; numerous skylights; and water systems to repurpose rain water. The Lebanon facility serves REI stores and customer online order fulfillment in the Midwest and Southeast, and complements REI’s three existing distribution centers in Bedford, Pa.; Goodyear, Ariz.; and Sumner, Wash. REI employs roughly 275 people at the Lebanon property, which has received industry awards from local chapters of national organizations including NAIOP and ULI.
